The cost to produce silver by the leading primary mining companies hit a new record high in Q2 2024. Even the second largest silver producer in the world, Copper Miner, KGHM Polska Miedz, reported a dismal 6% profit margin.
Without the nearly $600 million in silver revenues, a by-product of copper mining, KGHM Polska Miedz would have suffered a loss. So, the idea that the Base Metal mining industry is giving its by-product silver away for free or at a low price DIED many years ago.
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A tool of production – a bridge, road, spanner, muscle power – founded in the past is the Inertia for the energy-deprived future.
Gold, Silver other precious metals mined in the past will contribute immensely in preserving the Inertia of the energy-deprived future for longer, economically – at least as a unit of measurement – and esoterically.
“No matter how highly mechanised and self-powered, fossil fuels extraction requires a number of people as if the process executed by hands using buckets and ropes”.
Today, this number is 8 billion people – working flat out 24/7 – strong.
Our Western Civilisation has been no more than a fossil fuels management operation – all along.
Humans were not ready morally, ethically and intellectually to start the mass extraction of fossil fuels with the advent of the steam engine 300 years ago.
“In any system of energy, Control is what consumes energy the most.
No energy store holds enough energy to extract an amount of energy equal to the total energy it stores.
No system of energy can deliver sum useful energy in excess of the total energy put into constructing it.
Energy, like time, flows from past to future” (2017).
Thank you!